Mar, 31, 2022 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $43.72 million in total assets. Opened 90 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,624 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATION 1ST CREDIT UNION |
|---|---|
| Address: (Main Office) | 1250 Country Hills Dr OGDEN, UT 84403-2560 |
| Phone: | (801) 392-4877 |
| Fax: | (801) 392-4879 |
| Website: | http://e1cu.org |
| Branches: | 1 branch locations |
| Members: | 2,624 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67127 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $43,716,176 |
| CEO/Manager: | Kent M Greenfield |
| Chairperson: | Bruce Christensen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,714,651 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,894,826 |
| Unsecured Loans | 1,762,923 |
| Other Loans | 11,435,572 |
| TOTAL LOANS | 30,093,321 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -215,070 |
| Land And Building | 235,747 |
| Other Fixed Assets | 179,647 |
| NCUSIF Deposit | 337,118 |
| All Other Assets | 0 |
| TOTAL ASSETS | 43,716,176 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 99,345 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,105,433 |
| Regular shares | 19,093,416 |
| All Other Shares & Deposits | 10,095,420 |
| TOTAL SHARES & DEPOSITS | 39,294,269 |
| TOTAL LIABILITIES | 39,393,614 |
| Regular Reserve | 0 |
| Other Reserves | 1,795,906 |
| Undivided Earnings | 2,526,656 |
| TOTAL EQUITY | 4,322,562 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 43,716,176 |
| INCOME & EXPENSE | |
| Loan Income | 309,087 |
| Investment Income | 8,294 |
| Other Income | 62,000 |
| Total Employee Compensation & Benefits | 194,605 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 140,743 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,000 |
| Cost of Funds | 37,228 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 70,283 |
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